Peraso Inc. (PRSO) AI Stock Analysis

Peraso Inc., based in San Jose, California, operates as a fabless semiconductor company that specializes in the development, marketing, and sale of semiconductor devices and modules. The company focuses on millimeter wavelength (mmWave) technology, particularly in the 60 gigahertz spectrum and for applications in 5G cellular networks. Its core offerings include mmWave ICs, baseband ICs, radio frequency integrated circuits, and antenna technology built into high-speed transmission modules. Peraso also provides accelerator engines like the bandwidth engine and programmable hyperspeed engine, supports consumer applications such as wireless video streaming and virtual reality, licenses intellectual property, and offers non-recurring engineering services.

Peraso recorded revenue of $5.7M in FY2021, which grew to $14.9M in FY2022 before shifting to $13.7M in FY2023, $14.6M in FY2024, and $12.2M in FY2025, reflecting a 16.3% decline in FY2025. Gross margin expanded from 42.4% in FY2021 to 58.0% in FY2025. Over the same timeframe, net income improved from -$9.5M in FY2021 and -$32.4M in FY2022 to -$4.8M in FY2025, bringing net margin to -39.0%. For the trailing twelve months ended June 30, 2026, revenue was $8.4M with an operating margin of -171.1% and a profit margin of -85.6%. In the latest quarter, revenue fell 41.1% year-over-year, while quarterly earnings growth was 29139.3%.

As of June 30, 2026, Peraso held $3.3M in cash and short-term investments and total debt of $128,000, leaving net cash of $3.2M. Shareholders' equity was $4.9M, and the current ratio stood at 3.17, with a debt-to-equity ratio of 0.03. Cash flow remains negative, with an operating cash flow of -$5.6M and free cash flow of -$5.7M in FY2025. Capital expenditures in FY2025 were $107,000, and the five-year share count change reached 6166.9%.

At a market cap of $5.5M and enterprise value of $4.2M, Peraso trades at a price-to-sales ratio of 0.7x and an EV-to-revenue ratio of 0.5x. These multiples are below the median of its US-listed Technology peers, which trade at a price-to-sales ratio of 2.8x. Peraso's price-to-book ratio is 1.5x. Over the past year, the stock fell 84.4%, underperforming the S&P 500 (SPY) return of 16.8%. Over five years, Peraso's return was -99.8%, compared to an 83.0% gain for the S&P 500.

Wall Street coverage consists of 1 Strong Buy rating, with 0 Buy, 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $3.25, which sits 800.3% above the last close of $0.36. For the current fiscal year ending December 31, 2026, the estimated EPS is -$0.68 on revenue of $6.2M. For next fiscal year, 1 analyst projects revenue of $18.0M and EPS of -$0.09. Peraso beat EPS estimates in 3 of the last 4 quarters, with next earnings scheduled for November 9, 2026.

This page is an AI-written research summary of Peraso Inc. (PRSO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: PRSO income statement, PRSO balance sheet, PRSO key metrics, PRSO analyst forecast, PRSO chart. See the PRSO stock overview for the latest quote and news.